According to Lookonchain, Terraform Labs sold all of its 20 million LDOs for an average price of $2.07, which was a major move for the crypto world and resulted in a handsome profit for the company. .
Source: Lookonchain
Terraform Labs participated in Lido Finance’s $2 million funding round in December 2020, acquiring 20 million LDOs.
15.3 million LDOs, then worth $32 million, were sold on the decentralized exchange (DEX) for an average price of $2.1, while 4.7 million LDOs, then worth $9.4 million, were transferred to the $2 on Binance.
#Terraform Laboratory sales of 20 million $LDO A token with an average price of $2.07, generating decent profits @azcoinnews https://t.co/PyNqG0WUeZ
— Kyptos (@azcoinnews) March 12, 2023
The token sale has caught the attention of the crypto community, and there has been much speculation about the motivations behind Terraform Labs’ decision. Some have suggested that the company may be looking to invest in other crypto projects, while others believe they are simply taking a profit.
The financing of Lido Finance, in which Terraform Labs participated, has attracted the support of many well-known investors, including Semantic Ventures, ParaFi Capital, Terra, KR1, Stakefish, and Staking Facilities. Additionally, angel investors including MakerDAO’s Rune Christensen, Aave’s Stani Kulechov, and Synthetix’s Kain Warwick also participated in the round.
Lido Finance is a popular Ethereum 2.0 staking service provider that allows users to earn rewards by staking their ETH. The protocol has grown in popularity in recent months, with many investors looking to capitalize on the growing interest in Ethereum 2.0.
- MixBytes stopped supporting Lido on Polkadot and Kusama starting March 15th
- LDO tokens drop 10% after Lido Finance is rumored to have received notification from US SEC Wells
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according to Kyptos
